AppFolio, Inc. (NASDAQ:APPF) Q4 2022 Earnings Conference Call January 26, 2023 5:00 PM ET

Company Participants

Lori Barker - Investor Relations

Jason Randall - President and Chief Executive Officer

Fay Sien Goon - Chief Financial Officer

Conference Call Participants

Operator

Good afternoon, and thank you for standing by and welcome to the AppFolio, Inc.’s Fourth Quarter 2022 Financial Results Conference Call. Please be advised today’s conference is being recorded and a replay will be available on AppFolio’s Investor Relations website.

I would now like to hand the conference over to Lori Barker, Investor Relations.

Lori Barker

Thank you. Good afternoon, everyone. I’m Lori Barker, Investor Relations for AppFolio and I'd like to thank you for joining us today as we report AppFolio's fourth quarter 2022 financial results. With me on the call today are Jason Randall, AppFolio's President and CEO; and Fay Sien Goon, AppFolio's Chief Financial Officer. This call is being simultaneously webcast on the Investor Relations section of our website at www.appfolioinc.com.

Before we get started, I’d like to remind everyone of AppFolio's Safe Harbor policy. Comments made during this conference call and webcast contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties. Any statement that refers to expectations, projections, or other characterizations of future events, including financial projections, future market conditions or future product enhancements or development is a forward-looking statement.

AppFolio's actual future results could differ materially from those expressed in such forward-looking statements for any reason, including those listed on our SEC filings. AppFolio assumes no obligation to update any such forward-looking statements, except as required by law.

For greater detail about risks and uncertainties, please see our SEC filings, including our to be filed Form 10-K for the fiscal year ended December 31, 2022. In addition, this call includes non-GAAP financial measures. Reconciliations of those non-GAAP financial measures with the most directly comparable GAAP measures are included in our fourth quarter earnings release posted on our Investor Relations section of our website.

With that, I will turn the call over to Jason Randall, AppFolio's President and CEO. Jason, please go ahead.

Jason Randall

Thank you, Lori, and welcome to everyone joining us for AppFolio’s fourth quarter and fiscal year 2022 financial results. I'm pleased to report that AppFolio continued to show resilience in the changing real estate industry in evolving macroeconomic environment. Fourth quarter revenue grew 30% year-over-year to $124 million capping off an annual 31% increase to $472 million. Units grew 15% for the year to 7.3 million.